Aama Community Development Corporation
- Assets
- $736.0k
- Revenue
- $13.1k
- Investments
- $0.0
- Employees
- 1
- Location
- Houston, TX
- Founding
- 08/1990
- Data as of
- 12/2016
- EIN
- 76-0264162
Organization Overview
Aama Community Development Corporation is located in Houston, TX. The organization was established in 1990. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Aama Community Development Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2016
Describe the Organization's Mission:
Part 3 - Line 1
CONDUCT AND SUPPORT ECONOMIC DEVELOPMENT AND HOUSING DEVELOPMENT ACTIVITIES IN LOW INCOME NEIGHBORHOODS OF HOUSTON AND SOUTH TEXAS WHICH COMBAT COMMUNITY DETERIORATION, POVERTY, RACIAL DISCRIMINATION AND PREJUDICE, REDUCE NEIGHBORHOOD TENSION, RELIEVE THE POOR, DISTRESSED AND UNDERPRIVELEDGED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROPERTY MANAGEMENT AND ASSET MANAGEMENT SERVICES PROVIDED TO LOW-INCOME MULTIFAMILY HOUSING PROJECTS LOCATED IN THE HOUSTON EAST-END. THIS PROGRAM IS ESSENTIAL FOR THE COMPANY TO CARRY OUT ITS EXEMPT PURPOSE OF CONDUCTING AND SUPPORTING HOUSING DEVELOPMENT ACTIVITY IN LOW-INCOME NEIGHBORHOODS OF HOUSTON. DURING 2016, THE COMPANY PROVIDED ASSET MANAGEMENT AND OVERSIGHT SERVICES TO LAS VILLAS DE MAGNOLIA, INC., A HUD SECTION 202 MULTIFAMILY PROJECT IN THE HOUSTON EAST-END, WHICH PROVIDES 75 UNITS OF AFFORDABLE AND SAFE HOUSING TO SENIORS.
DUE DILIGENCE AND PROJECT DEVELOPMENT SERVICES PERFORMED TO PROVIDE ADDITIONAL LOW-INCOME HOUSING UNITS TO HOUSTON AND SOUTH TEXAS. THE COMPANY HAS SUCCESSFULLY TARGETED LOW-INCOME HOUSING NEEDS IN THE HOUSTON AREA, PERFORMED MARKET ANALYSIS, AND HAS OBTAINED ADDITIONAL FINANCING COMMITMENTS TO SUPPORT ECONOMIC DEVELOPMENT AND HOUSING DEVELOPMENT ACTIVITIES IN LOW-INCOME NEIGHBORHOODS OF HOUSTON AND SOUTH TEXAS.
IN 2000, COMPANY PURCHASED EDINBURG OFFICE BUILDING. THE PROJECT IS A KEY COMPONENT OF THE ORGANIZATION'S EXEMPT PURPOSE BY PROVIDING SAFE, DECENT AND AFFORDABLE OFFICE SPACE TO A NON PROFIT ORGANIZATION WHICH PROVIDED EDUCATIONAL AND SOCIAL SERVICES TO MINORITIES IN EDINBURG (SOUTH TEXAS). DURING 2015, THE COMPANY SOLD THE EDINBURG OFFICE BUILDING TO AN UNRELATED PARTY.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carlos Alvarez Director | Trustee | 1 | $0 |
Gary Flores Director | Trustee | 1 | $0 |
Peter Clementi Executive Direc | OfficerTrustee | 40 | $57,999 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $13,067 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,067 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $57,999 |
| Compensation of current officers, directors, key employees. | $11,600 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $11,677 |
| Payroll taxes | $4,437 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $2,487 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,083 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,052 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,135 |
| All other expenses | $0 |
| Total functional expenses | $79,893 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $49,302 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $426,685 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $260,000 |
| Total assets | $735,987 |
| Accounts payable and accrued expenses | $25,174 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $25,174 |
| Unrestricted restricted net Assets | $710,813 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $710,813 |